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EIA: Nice jump in overall inventories, but gasoline inventories tight

GasBuddy Blog -- The Energy Information Administration released its weekly report on the condition of petroleum inventories in the United States today.

Here are some highlights:

CRUDE INVENTORIES:
Crude oil inventories increased by 2.0 million barrels to a total of 359.1 million barrels. At 359.1 million barrels, inventories are 12.7 million barrels above last year (3.7%) and are near the upper limit of the average range.

GASOLINE INVENTORIES:
Gasoline inventories decreased by 1.2 million barrels to 197.7 million barrels. At 197.7 million barrels, inventories are down 13.1 million barrels, or 6.2% lower than last year. Here's how individual regions and their gasoline inventory fared last week: East Coast (+0.3mb); Midwest...

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Submitted Sep 12, 2012 By: PD

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swenglar Rookie Author Texas Posts:94 Points:57,240 Joined:Jul 2011	Message Posted: Sep 13, 2012 11:08:35 PM Ignore swenglar Report Abuse Meh
MadTraveler Champion Author Idaho Posts:2,082 Points:572,100 Joined:Nov 2009	Message Posted: Sep 13, 2012 4:36:23 PM Ignore MadTraveler Report Abuse Old
puinsai808 Champion Author Honolulu Posts:3,539 Points:726,330 Joined:May 2011	Message Posted: Sep 13, 2012 9:59:41 AM Ignore puinsai808 Report Abuse old
40mpgsaturn Champion Author Wisconsin Posts:2,490 Points:520,430 Joined:Jun 2011	Message Posted: Sep 13, 2012 9:22:20 AM Ignore 40mpgsaturn Report Abuse The consumer can't & won't win!!!
Cheepo Champion Author Tampa Posts:9,889 Points:3,128,005 Joined:Apr 2003	Message Posted: Sep 13, 2012 9:07:12 AM Ignore Cheepo Report Abuse Drill baby drill here and now!!!!!!!!!
DougtheEconMan Champion Author Akron Posts:1,903 Points:268,690 Joined:Feb 2008	Message Posted: Sep 13, 2012 6:51:16 AM Ignore DougtheEconMan Report Abuse KEEP YOUR TANKS FULL! I've been preaching this for almost 2 months. The "pundits" and "experts" have NOT understood the supply/demand curve for gasoline that started to shape at the beginning of summer. Gasoline refineries have been overworked for months and months. Many have broke down. Some have caught on fire. This was all BEFORE the huricane!! We've seen some after driving season price drop, but very little and this is probably it. STAY FULL! We are only one or two down refineries from shooting back over $4 for a national average. Obamas failing and falling dollar will continue to put upward pressure on oil/gasoline.
tomok Champion Author Portland Posts:32,986 Points:2,344,535 Joined:Aug 2006	Message Posted: Sep 13, 2012 6:11:30 AM Ignore tomok Report Abuse Crude oil inventories increased, Gasoline inventories decreased, Distillate inventories increased, Refinery utilization dropped, Total US oil stocks are up. The trend for fuel prices at the pump is always up! Big Oil continues to sell fuel and natural gas on the world market for higher prices, there will be NO price reduction for the cost of fuel or natural gas IN the US. 'Coming out of the closet' Chucks lousy, smoke and mirrors, lack of jobs, dog and pony show and in the crapper economy, the jobs are Not here. Chuck's economy is not improving but continues to hurt the population and the job numbers continue to be down – no matter how smoooooth talking Chuck spins those numbers and he can spin them very well! People will still drive and buy fuel no matter what but it sure helps to have a job too! The US ‘oil and natural gas resources’ belong to the citizens of this country and are to be used by those same citizens! Speculators, manipulators and the banks continue to unfairly and unjustly make the driving public pay higher prices at the pump for their personal benefit. How much will gas prices go up and they will rise, the trend is always up with fuel prices. The price at the pump needs to go down to $2/gallon, $3, $3.50/gallon or $4.00 is Not the new low! Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. The price of fuel at the pump is too high! 12/22/2012!
Petrock Champion Author Lexington Posts:9,118 Points:2,556,785 Joined:Apr 2005	Message Posted: Sep 13, 2012 5:14:58 AM Ignore Petrock Report Abuse Gasoline production is down ... and prices are up! Sounds like a plan ... to raise prices for the election!
bikerWI Champion Author Milwaukee Posts:1,413 Points:876,510 Joined:Apr 2010	Message Posted: Sep 13, 2012 5:12:31 AM Ignore bikerWI Report Abuse This is another reason they can say why the prices are high in a certain area.
BoerneWatch Champion Author San Antonio Posts:15,536 Points:2,452,965 Joined:Oct 2005	Message Posted: Sep 13, 2012 5:06:51 AM Ignore BoerneWatch Report Abuse The inventories numbers should not be touted so much anymore. Ten years ago they meant a lot more. Ten years ago we were starting to import gasoline. Today, we export gasoline and other refined products. Today, we import oil to convert to gas, diesel and other products that we then export. In other words, we have plenty of gas and diesel as a whole but some areas of the country may have a shortage.
yonasb Champion Author Houston Posts:3,463 Points:737,625 Joined:Apr 2011	Message Posted: Sep 13, 2012 5:05:37 AM Ignore yonasb Report Abuse Ok
tco0102 Champion Author Charleston Posts:7,394 Points:1,755,110 Joined:May 2007	Message Posted: Sep 13, 2012 5:03:41 AM Ignore tco0102 Report Abuse But prices are going up...
gabisgram Champion Author Michigan Posts:2,191 Points:911,275 Joined:Sep 2006	Message Posted: Sep 13, 2012 5:03:29 AM Ignore gabisgram Report Abuse Hang on to your wallets.
warlord1 Champion Author Georgia Posts:5,240 Points:1,033,025 Joined:May 2010	Message Posted: Sep 13, 2012 5:02:43 AM Ignore warlord1 Report Abuse ok
photobuddy Champion Author Washington Posts:1,620 Points:370,255 Joined:Feb 2012	Message Posted: Sep 13, 2012 5:01:51 AM Ignore photobuddy Report Abuse the overall stocks are up 11.8 million barrels and yet the prices have not gone down, where is supply and demand? I know the oil companies think that they can raise prices because some of the product has not yet been proceeded. Get move. Hope the food stories don't start to raise food prices just because the cows are still in the field not it the butches warehouse.
74celica Champion Author Columbus Posts:1,425 Points:1,808,725 Joined:May 2006	Message Posted: Sep 13, 2012 5:01:43 AM Ignore 74celica Report Abuse just the latest excuse to raise prices
WaWanderer Champion Author Washington Posts:4,331 Points:584,975 Joined:Oct 2011	Message Posted: Sep 13, 2012 5:01:18 AM Ignore WaWanderer Report Abuse Ok
jci25946 Champion Author Tampa Posts:3,261 Points:938,815 Joined:Jan 2006	Message Posted: Sep 13, 2012 5:00:40 AM Ignore jci25946 Report Abuse Yeah, yeah, more higher prices
mobil1MN All-Star Author Minnesota Posts:664 Points:1,294,635 Joined:Sep 2007	Message Posted: Sep 13, 2012 5:00:36 AM Ignore mobil1MN Report Abuse ok
mrjames1818 Champion Author New Jersey Posts:1,540 Points:1,997,120 Joined:Mar 2004	Message Posted: Sep 13, 2012 5:00:09 AM Ignore mrjames1818 Report Abuse This is getting ridiculous. Something has got to change.
taterVA All-Star Author Richmond Posts:835 Points:383,125 Joined:Oct 2008	Message Posted: Sep 13, 2012 4:58:46 AM Ignore taterVA Report Abuse And to think some moran got paid to write this trash.
ILVET Champion Author Illinois Posts:14,789 Points:2,924,640 Joined:Jan 2005	Message Posted: Sep 13, 2012 4:57:46 AM Ignore ILVET Report Abuse Stop exporting until its not tight
gas4433 Champion Author Houston Posts:2,352 Points:544,775 Joined:Sep 2011	Message Posted: Sep 13, 2012 4:57:23 AM Ignore gas4433 Report Abuse Ok
KDMWI Champion Author Wisconsin Posts:4,195 Points:382,170 Joined:Oct 2008	Message Posted: Sep 13, 2012 4:57:12 AM Ignore KDMWI Report Abuse Boo1989, is that Your opinion because I don't see that statement in the article.
fillerupyeoww Champion Author Columbus Posts:5,874 Points:1,648,465 Joined:Mar 2008	Message Posted: Sep 13, 2012 4:55:07 AM Ignore fillerupyeoww Report Abuse Yeah well, nice jump in pump prices overnight.
Lengas Champion Author Gary Posts:13,545 Points:2,716,800 Joined:Nov 2004	Message Posted: Sep 13, 2012 4:55:00 AM Ignore Lengas Report Abuse BS manipilation
jeff95519 Champion Author California Posts:2,447 Points:1,353,265 Joined:Sep 2008	Message Posted: Sep 13, 2012 4:53:07 AM Ignore jeff95519 Report Abuse so then what
kmurphy345 Veteran Author Toronto Posts:457 Points:151,205 Joined:Oct 2010	Message Posted: Sep 13, 2012 4:52:14 AM Ignore kmurphy345 Report Abuse ok
lpatti1 Champion Author Philadelphia Posts:10,196 Points:1,962,285 Joined:Sep 2005	Message Posted: Sep 13, 2012 4:50:53 AM Ignore lpatti1 Report Abuse OK!
wcp3rd All-Star Author New Jersey Posts:724 Points:360,425 Joined:Mar 2012	Message Posted: Sep 13, 2012 4:50:35 AM Ignore wcp3rd Report Abuse ok
P H Champion Author Albany Posts:58,100 Points:2,406,955 Joined:Jan 2004	Message Posted: Sep 13, 2012 4:50:15 AM Ignore P H Report Abuse Supply down Price increases
Beau2140 Champion Author New York Posts:8,291 Points:1,656,185 Joined:Oct 2008	Message Posted: Sep 13, 2012 4:49:22 AM Ignore Beau2140 Report Abuse Prices still going up.
Yankee829 Champion Author Dallas Posts:2,201 Points:558,615 Joined:Sep 2010	Message Posted: Sep 13, 2012 4:48:46 AM Ignore Yankee829 Report Abuse Ok
isem Champion Author Missouri Posts:1,921 Points:422,210 Joined:Feb 2012	Message Posted: Sep 13, 2012 4:48:26 AM Ignore isem Report Abuse Déjà vu
Boo1989 Champion Author Atlanta Posts:7,170 Points:1,348,655 Joined:Oct 2008	Message Posted: Sep 13, 2012 4:47:56 AM Ignore Boo1989 Report Abuse "Somehow we have to figure out how to boost the price of gasoline to the levels in Europe." steven chu, obama's energy secretary.
LeeFree Champion Author Pittsburgh Posts:9,146 Points:2,242,475 Joined:Jun 2005	Message Posted: Sep 13, 2012 4:47:44 AM Ignore LeeFree Report Abuse Seldom matters at the pump.
f4driver Champion Author Maine Posts:2,520 Points:684,320 Joined:Aug 2007	Message Posted: Sep 13, 2012 4:46:15 AM Ignore f4driver Report Abuse Blah, blah, blah!
hawkman1950 Champion Author Michigan Posts:2,620 Points:539,580 Joined:Aug 2010	Message Posted: Sep 13, 2012 4:43:36 AM Ignore hawkman1950 Report Abuse It's called pure GREED!!!!!!
TommyTraveler Champion Author Cincinnati Posts:8,674 Points:1,697,330 Joined:Nov 2007	Message Posted: Sep 13, 2012 4:41:33 AM Ignore TommyTraveler Report Abuse Theses cartel gangsters have stolen trillions of dollars from the American public at a small investment of a few $ million to our politicans. This is the most corrupt and irresponsible governments we have in American History.
FMREALTOR Champion Author Florida Posts:6,400 Points:1,696,030 Joined:Jan 2007	Message Posted: Sep 13, 2012 4:41:25 AM Ignore FMREALTOR Report Abuse Amazing how one article say we ar short and the next say we have excess. I can count too 1,2,15,20,50
Pointtx Champion Author Austin Posts:3,231 Points:724,105 Joined:Mar 2011	Message Posted: Sep 13, 2012 4:40:02 AM Ignore Pointtx Report Abuse Worthless data.
HelenT Champion Author Buffalo Posts:2,949 Points:597,925 Joined:Apr 2004	Message Posted: Sep 13, 2012 4:38:36 AM Ignore HelenT Report Abuse Always an excuse!
JoJoQc Champion Author Montreal Posts:5,336 Points:1,040,155 Joined:May 2010	Message Posted: Sep 13, 2012 4:38:12 AM Ignore JoJoQc Report Abuse Always excuses!
vamike Champion Author Virginia Posts:5,320 Points:1,363,975 Joined:Dec 2008	Message Posted: Sep 13, 2012 4:35:26 AM Ignore vamike Report Abuse There will always be some excuse to keep prices high.
epf Champion Author Grand Rapids Posts:6,329 Points:1,890,380 Joined:May 2004	Message Posted: Sep 13, 2012 4:35:15 AM Ignore epf Report Abuse Not sure why this gets posted.
SOLONGCOLD Champion Author Ann Arbor Posts:1,107 Points:270,265 Joined:Nov 2010	Message Posted: Sep 13, 2012 4:34:53 AM Ignore SOLONGCOLD Report Abuse prices are up to 4.09 here - every time there's something happening over in arab land .... they kill our people and it goes up.... sickening.
AvantiMick Champion Author Indiana Posts:12,737 Points:2,541,570 Joined:Dec 2005	Message Posted: Sep 13, 2012 4:34:51 AM Ignore AvantiMick Report Abuse Excuses, excuses!
smenzel Champion Author Seattle Posts:2,050 Points:1,103,955 Joined:Mar 2007	Message Posted: Sep 13, 2012 4:34:01 AM Ignore smenzel Report Abuse Ok
4bobux Champion Author Peoria Posts:1,962 Points:409,230 Joined:Mar 2012	Message Posted: Sep 13, 2012 4:32:13 AM Ignore 4bobux Report Abuse Doesn't matter, price always goes up for any old reason.
gaspumpin Champion Author Indiana Posts:1,665 Points:387,505 Joined:Apr 2012	Message Posted: Sep 13, 2012 4:30:13 AM Ignore gaspumpin Report Abuse Ah Ha! So prices go up.